The Bismarck Tribune Newspaper, September 3, 1935, Page 3

;’ MURPHY BG INTEREST BL PACING TAXPAYERS IV NEXT 25 YEAR Bonds Now Outstanding Will Demand $24,470,361 50 In Carrying Charges North Dakota’s interest bill on its Various bond issues to be paid off dur- ing the next quarter-century will to- ‘tal $24,470,361.50, according to a sur- vey released Tuesday by the state tax commissioner's office. Taxpayers of the state must also ‘pay Off $36,538,700 in principal debt, which is earning the interest for bond holders and owners of certi- ane issued against.the state capi- With a total debt of $61,009,061.50, including interest to be met, the state will meet the obligations with aver- @ge annual payments of $2,440,362.40, the survey reveals, In 1960, when the final bond has fallen due, eight types of bonds and one issue of certificates will have been Paid, unless new bonds,are issued. North Dakota now has outstanding $500,000 in four-per-cent bonds, on which $490,000 in interest will be earned during the 25 years; $2,000,000 in four and one-quarter per cent bonds, upon which $1,947,500 will have been paid in interest in 1960; $12,- 033,000 in four and one-half per cent bonds, on which the interest bill will have totaled $8,376,030 twenty-five years hence. Some Rates Are Higher In addition, there also are out- standing $6,295,000 in five per cent bonds on which interest payments will amount to $4,319,000; a total of $3,991,000 in five and one-quarter per cent bonds, for which the state wii Pay $2,782,946.25 in interest; $4,086,- 000 in five and one-half per cert bonds, on which interest will be $2.- 613,435; a total of $2,667,700 in five and three-quarter per cent bonds, for which interest amounting to $1,504,- 355.25 will be paid, and $4,339,000 in six per cent bonds, on which interest ‘will amount to $2,311,170. In addition the $627,000 in capitol certificates, issued against the new structure, will earn $125,925 in intcr- est. Not all of the bonds run until 1980, as many of tlie various types are due in earlier years. The four per cent issue runs to 1960; four and one- querter per cent to 1959; four and one-half per cent to 1958; five per cent to 1959, while the five and one- quarter per cent type will be paid off 4n_1956, Earliest to be paid off is the five and three-quarter per cent issue up- on which final payment will be mace in 1948, Walle the six per cent issue will be pail in 1949. In 1950 the five nd one-half per cent type will be paid off. Certificates Due in 1942 Capitol certificates are scheduled to be paid in 1942, Included in the bond issues are both real estate bonds—principal debt against the state—and mill and eleva- tor and milling bonds, which were issued for construction and financing of operations of the mill. Of the $36,538,700, various state dc- partments hold a total of $16,869,200 in bonds and certificates. In the university and school lands fund are $1,600,000 in real estate bonds; hail insurance department, $662,000 in real estate and mill bonds; state bonding fund, $360,000 in real estate bonds; fire and tornado fund, $1,507,000 in real estate and mill bonds; teachers’ retirement fund, $702,000 mill and rekl estate bonds; workmen’s compensation fund, $76,000 mill and elevator bonds, $2,112,000 real estate bonds. The Bank of North Dakota is one of the heaviest holders of real estate bonds—$7,787,200 worth, with $711,000 in mill bonds of both types, and $346,000 in capitol certificates, Judge Sets Hearings For Naturalization Hearings on petitions for natural- ization will be held by Judge Fred Jansonius in Burleigh county district court Saturday, Sept. 28, Charles Fisher, clerk of court, announces. ‘There are three applicants in the county. Judge Jansonius will sit at other hearings at Jamestown, Sept. 23; Car- rington, Sept, 24; New Rockford, Sept. 24; Fessenden, Sept. 25; Steele, Sept. 26; McClusky, Sept. 26 and Washburn, Sept. 27. eS —— — = FOLLY ! Children seem to dart as if impelled by fate in front of every careful driver. You should guard against this fearful fist of folly. Complete automobile insur- ance should be oltained . from this agency 9f the Hartford Fire Insbrance Company. Avoid financial losq and large court costs —phone today , “The Man Who Tsurance” North Dakota Farmers Watch Wheat Quotations | Many Making Private Investi- gations to Determine Pros- pect for Future In common with other northwest millers, A. F. Bonzer, Jr., manager of the state mill and elevator at Grand Forks, believes that the federal processing tax is reacting to the detri- ment of North Dakota farmers. In a statement recently at Grand Forks, Bonzer said he feared the contribu- tion by North Dakota farmers in the decreased price of wheat “will amount to as much as they have thus far re- ceived in allotment and benefits,” be- cause of the increased number of bushels of light wheat needed to make @ barrel of flour and the fact that the millers are passing the processing tax back to the farmer, In 1916, another year when the crop was light in weight, the price of wheat reflected more directly the amount of flour which could be obtained for it, Bonzer said, since the processing tax was not then a factor. . Meanwhile, the state mill and eleva- tor, acting under the direction of the state industrial commission, went ahead with preparations to inaugur- ate the loaning system whereby farm- ers will be enabled to hold their grain on the farm until a better determina- tion of its value can be had. Not Much Under 39 Pounds Meanwhile, it appears that there will be very little wheat offered below 39 pounds for the reason that it is almost impossible to thresh lighter grain. This was brought home to Gov- ernor Walter Welford when he at- tempted to thresh the crop on his own farm in Pembina county. He got @ little 39-pound wheat in several hours of operation. The rest, being lighter, went out through the blower. Everywhere throughout the state, according to word received at the governor's office, farmers are watch- ing the market closely, hoping for a break which will get them more money for their crop. In addition to the studies being made at the state mill and elevator, experts at the state ag- ricultural college have been working on the subject and expected to have some initial reports Saturday. Indi- viduals also are examining the situa- tion as a guide to their marketing Policies, How this year's crop compares in weight with that of previous years is indicated by figures from the Cham- ber of Commerce in Minneapolis. Data for 1934 show that 96 per cent of the wheat received at Minneapolis tested No. 3 (55 pounds) or better, but this year only 46 per cent of the total tests No. 3 or better. Of 15,459 cars in- spected in Minneapolis in 1934, only 560 cars graded No. 4 or lower and of this number 321 graded No. 4. Little Good Grain Sold This year, from Aug. 1 to Aug. 17, only 466 cars out of 1,295 graded No. 3 or better and of these 204 cars were in the No. 3 class, Another factor in the price, ac- cording to Minneapolis advices, is that grain which was damaged only by heat is selling at a premium over grain Gamaged by rust or by both rust and heat. Explanation is made that rust disturbs the ratio of protein, gluten, flour content and other ingredients to ‘&@ greater extent than does heat alone. Since the price of wheat is deter- mined not only by the value of the flour but by the value of the mill feed, the amateur investigating the subject finds his head going around dizzily as he tries to evaluate the various factors involved. In addition to this, there is always the question of flour quality as determined by appearance and bak- ing values. A recent bulletin of the Minnesota department of agriculture, which op- erates a state testing mill in Minnea- Polis, throws some light on the man- ner in which mill operating costs rise as the weight of wheat goes down. Milling Cost Data It says: “Taking 69 cents as being! the approximate cost (of milling) per barrel, we find that if we assume this Cost for average No. 1 northern, yield- ing 73.7 per cent flour, it will cost about .778 a barrel to produce flour from No. 5 dark northern wheat yield- ing 65.4 per cent flour, a difference Of .088 per barrel which, calculated to a yleld of 65.4 flour, amounts to .0183 a bushel, which at least should be added to the differences between No. 1 and No. 5 dark northern spring (59 pounds and 51.5 pounds respectively). This is about 15 cents, or an average of two cents for each pound of test weight.” That the Minnesota department's cost figure is low, however, is the con- tention of the milling trade which Places the average manufacturing cost of 57-pound wheat at 73 cents and the total cost of manufacturing and wholesaling’ at $.962 a barrel. All of these figures are presented in the Aug. 21 issue of the Northwestern Miller, a trade publication. The trade statistics are from averages compiled by the Millers National Federation after a survey of all mills, whereas those from the Minnesota agricul- tural department are from tests at the eae mill and computations based on’ ma, Prices Are Proportionate Another janalysis of the market sit- uation shows that any increase in the Eee Eee eens reid be redheoted ina proportionate gain in the price paid for lighter wheat. If, for example, 57-pound wheat were selling at $1 @ bushel, 47-pound wheat would have @ milling value of $.543¢ but if the base price went to $2 a bushel, 47-pound wheat: would be worth $1.4195. ‘The reason for this, it is ex- plained, les in the increased value of the feed products, as well as the in- creased value of flour. People’s Forum Note)—The Tribune ers on subjects of inte! dealing with contro- versial sous subjects, which @ttack individuals unfairly, or which offend good taste and fair play will be returned to the writ- ers. All letters MUST bé (f you wish to use a p! sign the pseudonym first own name beneath it. We reserve the right to delete such parts of letters as may be necessary to conform to this policy and to re- quire publication of a writers fame where justice and fair play make advisable. All letters must be limited to not more than 600 words. 5 LIKES ‘QUIET’ SIGNS Bismarck, N. Dak., Aug. 30, 1935. Editor, Tribune: Tam glad to see the Quiet Hospital Zone signs near the hospitals of Bis- marck, How about Stop and Go signs at the dangerous corners of Fourth and Broadway, Fifth and Broadway,’ and Sixth and Broadway? Tt was an accident at Fourth and Broadway on Dec. 2, 1933, that sent me to the hospital for 132 days. Victim of an Accident HE DIDN'T LIKE IT Richardton, N. Dak., Aug. 19th, 1935. Editor, Tribune: The editorial “Demand United Ef- fort” surely is not up the high stand- ard usual for your paper. tax can be dismissed from the equa- tion since it is based on 60 pounds per bushel. You are wrong in as- suming this. 60 pounds of heavy wheat will make around 44 lbs. of flour whereas 60 pounds of light wheat probably will make only 33 Ibs. of flour, yet the tax in either case would be 30c. The miller grinding the heavy wheat would have 11 pounds more flour without addition- al tax, This same disadvantage would car- ry all the way through, that is labor account, power, overhead, etc. 100 barrel plant has an overhead charge of say 5c per barrel then by cutting down its capacity to 75 bar- rels, by virtue of the lighter weight ire the overhead is raised to near- Te. Just why do you assume that the millers “have it in” for the farmer with the light wheat any more than with any other wheat? If it is cheap- er or more profitable to grind light wheat at the present price then the miller grinding such wheat would be able to undersell his competitor on flour orders. The competitor would either have to follow suit or he would be out of business. If flour can be produced for less money with light weight wheat at the present discount then why do some millers still buy the heavy wheat that is reaching the market? All larger mills have their ewn la- boratories in which continous testing is going on and trial runs are made on every wheat available to deter- mine just which wheat is the most economical to buy. If the light wheat jat the present time is worth so much more than the quotations you 'can rest assured it will not be long jbefore they will be in the market bidding for this type of wheat. This jbidding will be upward until it again is a standoff with the heavy wheat. I am not interested in any flour mill but feel that your strong stand was hardly justified with what facts are available at this time. Yours truly, A Subscriber. Editor’s Note: The Tribune doesn’t “have it in” for the miller. Neither does it assume that the miller “has it in” for the farmer. It assumes that each is trying to do the best he can under the circumstances, always with an eye to protecting himself. The processing tax can be dis- missed from the equation simply because nothing can be done about it, ‘That it is handicapping the price of low-weight grain is unquestionable. One issue is whether or not this factor has been and is being overstressed. Elsewhere in this edition of The Tribune will be found an article bearing on the cost of mill- , ing various weights of wheat. The Tribune repeats that what we need is united effort to raise wheat prices and in that effort the millers must play a leading part if it is to be successful. Mandan Golfer Wins Wilton Tournament Wilton, N. D., Sept. 3—(4)—Gordon Gray won the men’s events and Mrs. G. A. Steinbruck of Mandan cap- tured the women’s honors in the an- nual Wilton medal golf tournamert Sunday. Gray took a 37 in qualifying and rounds of 37 and 37 gave him a 74 for the 18-hole medal play. Tom Lawless of Bismarck was runner-up and G, A. Steinbruck of Mandan, third, Mra. John Peterson of Bismarck was runner-up in the women’s divi- sion. Finlayson Released After Posting Bond Postirig $2,000 bond, Ellsworth Fin- Williston Selects Project Committee Wi ‘illiston, N. D., Sept. 3.—(P—A committee of five, representing local civic groups, has been named to act as city project for the works progress on field. The group will select projects for this vicinity to be submitted to the WPA for consideration. NEW Mott, ND, Sprecher won layson Saturday was released from the Burleigh county jail where he was held on charges of receiving property stolen from the U. 8. government. A preliminary hearing for Finlayson will be held Saturday at 2 p. m., before 8. A. Floren, -U. 8. commissioner. Finlayson’s bond, set at $10,000, was reduced on application of the defendant. Finlayson, much in the news in re- cent weeks, is plaintiff in a case in which he charges Charles O'Connor, better known as “Chuck” Connors, with larceny of $500 to $600. You mention that the processing|. If a; MILL CITY REPORTS Market Has Heaviest Day in Seven Years as Many Ship Wheat, Oats, Barley Minneapolis, Sept. 3.—(#)—More than $2,000,000 in new wealth for the northwest passed through the Min- neapolis cash grain market Tuesday in the busiest day the market has had in at least seven years. Despite prices which were lower than last year, wheat, oats, barley and other grains poured into the market. Wheat receipts were 1,026 cars, compared with 295 cars last year. Only in 1928 and 1930 have the after- Labor Day receipts been heavier than Tuesday. z Oats shattered all. of the after-holi- day records, with 435 cars, compared with 21 last year, 67 in 1933, 133 in 1932, 32 in 1931, 186 in 1930, 110 in 1929 and 207 in 1928, Total receipts of carlot movements of grain Tues- day were 2,230 cars compared with ‘10 last year, 2,029 in 1930 and 2,213) in 1928, On the basis of 1,026 cars of wheat. | at 1,400 bushels to the car and an average cash price of 85 cents a bushel, the wheat handled amounied to $1,220,004, The business in oats would have amounted to more than $200,000, that in barley to more than $400,000, and flax to more than $290,000. Sioux Delegation To Visit Capital Fort_ Yates, N. D., Sept. 2—(2)— John Gates will head a delegation of Sioux at a meeting with the com- missioner of Indian affairs in Wash- ington soon. With him will go Joseph Menz, Jack Ironboulder, Anton De- Rockbrain, Robert High Eagle, Wil- liam Hawk, Louie Thief and Jim All Yellow. HUGE GRAIN FLOOD ° Picked Poor Place To Ask for Dinner Grand Forks, N. D., Sept. 3.—() —Deportation Tuesday faced Gor- don Evans and Robert Bader, alleged illegal entrants from Can- ada, who picked the wrong place to beg a meal. The two chose the home of A. B. Clegg, federal im- migration inspector here, to get Sunday dinner. Their next stop was in the jail. Treasury Calling in Liberty Bond Issue Washington, Sept. 3. — (P) — The treasury undertook a $1,750,000,000 fi- nancing operation Tuesday aimed at retiring the last of the World War liberty bonds and raising new funds to bolster its cash balance. The amount of liberties to be re- funded totals $1,250,000,000, the last of $8,000,000,000 sold to the public in war times. Secretary Morgenthau said holders of the bonds, called for redemption Oct. 15, may exchange them for new low-interest bearing securities or cash. Old Timers Recall Days of Texas Trail Dickinson, N. D., Sept. 3.—(#)-- Days of the old Texas trail were re- called here Monday as pioneer ranch- ers and cowboys gathered at a re- union at the old HT ranch on Ante- lope creek near here. Among those attending were J. F. Roberts, the old HT ranch foreman, Ben Bird, Nate Halliday, Bill Taylor, Tom Johnson, W. H. Hanson and W. M. Nevens. Roberts recalled his experiences as trapper on the Cannonball and Mis- souri rivers in the winter and spring of 1881-82, when he obtained 300 beaver pelts. He also recalled ridinc the range and hunting with the late President Theodore Roosevelt and the Marquis de Morres. *|Retzlaff and Lasky Are Signed for Bout | St. Paul, Sept. 3.—(7)—Art Lasky and Charley Retzlaff, heavyweights, Tuesday signed for a ten round bout in St. Paul, Sept. 19. mercilessly and gained a technical knockout. sored jointly by Minneapolis and St. Paul boxing clubs. Ducks Are Plentiful Wilton, N. D., Sept. 3.—(#)—North Dakota has at least two ducks for each man, woman and child, acc: rd- ing to an estimate by S. R. Livergood, in charge of the state duck census. According to Livergood the number of ducks counted will run over 1,370,- 000. When completed the report will of More Game Birds in America, In sponsoring the census. ASK SEWER EXTENSION lief in Rugby, city officials are ap- plying for a project under the WPA to lay sewer extensions to connect the Good Samaritan hospital with the city sewerage system, In their first meeting about two/| years ago, Retzlaff battered Lasky The show will be spon-| State Survey Shows! be turned into the New York offices | | Peace Officers’ Force Increased ¢ Bismarck and Burleigh county's force of peace officers was in- creased by two during the last week. Neither the city or county com- | mission had a vote in the matter when Dr. Stork decided that the families of Frank Yeater, patrol- man, and Sheriff Fred Anstrom, should be increased by @ boy apiece. To Mr. and Mrs. Yeater, 503 Second St., a boy was born at St. Alexius hospital Tuesday. Also at St. Alexius hospital a boy was born to Mr. and Mrs. Anstrom Sunday. Registration Hours at High School Scheduled New high school students and those |wishing to register in new subjects should register at the old high school *| building Wednesday and Thursday be- | | tween 8:30 a. m. and 5 p. m, C. W. |Leifur, acting principal, announces. | pan Aerie MOTT MAN INJURED | Mott, N. D., Sept. 3.—(®)—Catapult- jed to the concrete floor of a basement eee the tread of a stairway col- \lapsed, Pete Wick suffered severe |head lacerations and contusions, brilliant-white teeth @One reason really bril- liant-white teeth are so rare is now known. Old- fashioned, slow-cleans- ing tooth pastes are often to blame. Don't waste time with them! A remarkable new kind of tooth paste has been perfected by the makers of Dr. West's Toothbrush. It cleans double-quick—yet can- not scratch enamel! igh delity Radio wit Master Dial. ‘10-Tube High Fi- delity adio, World Range. $6 7-Tube § ‘Wave and Broad- cast Radio. 5-Tube Battery Mantel. 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